Bondee: The New Web3 Social Networking App

Bondee has taken over Asia just a few days after its release on January 17.

It’s basically a platform like the metaverse where you can “bond” with your friends and family, live next door to them, and update them no matter where they are.

If you want to know why your friends have been sharing cute avatars and QR codes in their stories, I suggest you keep reading this article.

WHAT IS BONDEE?

Bondee is a social networking app that brings users into a new digital world to interact with friends and its virtual environment.

Unlike most social apps, it has animated 3D avatars that users can customize to make themselves and their virtual rooms look however they want in the app.

The mechanics also allow you to design your room, display your favorite JPGs, and chat with anyone on your friend list.

WHO’S BEHIND BONDEE?

The platform was launched on January 17, which was developed by a Singapore-based tech company, Metadream.

As a start-up, Metadream developed Bondee aiming it to become a “next-generation social app” for people to use.

Moreover, the company also established three data sources in Japan, Singapore, and the United States to uphold data privacy and compliance with policies regarding information security.

With its progress, Metadream intends to expand its operation centers from Japan and South Korea to Thailand and the Philippines to provide better services for local users.

In addition to running Bondee, Metadream says it is “developing a series of creative products for the metaverse.”

HOW TO USE BONDEE?

If you would like to jump to this trend, here is a step-by-step process to join Bondee:

• Download the app through Google Play Store (Android) or App Store (IOS)

• Open the app and register using your mobile number and a password

• Customize your avatar, which includes facial features, clothing, accessories, and even cute companions

Your profile account will then be complete after performing the steps.

Currently, users can add up to 50 friends by scanning their displayed QR codes or searching for their usernames. 

Once done, you can then begin your journey of communicating with other people in the app through the standard chat feature. 

BONDEE’S RELEVANCE TO WEB3

You’re probably wondering: What does Bondee have to do with Web3? It’s just a cute social media app with nothing to do with crypto or NFTs.

That’s probably true for now.

Bondee has both non-fungible token (NFT) and blockchain features. Even though NFTs don’t seem to be live in Bondee yet, they are mentioned in its official privacy policy.

The privacy policy says that users will be able to “create a blockchain-based wallet on the public blockchain within the platform.”

While real-world money will be used to buy B-Beans, B-Beans can be used to buy NFTs, which users can then store in their blockchain wallets.

When you make a purchase, the app will get the following information: the balance in your blockchain wallet, the details of your B-Beans order, and the details of your NFT order.

Bondee’s privacy policy also says that it won’t be able to see users’ wallet mnemonics phrases, private keys, wallet passwords, and other private information.

At the moment, it is unknown what Bondee’s NFT offerings will be.

CURRENT ISSUES CIRCULATING THE APP

Despite its current trend, many users have recently uninstalled the app mainly because of 2 reported issues:

• Environmentalists deemed the app harmful because of its integration on NFTs and blockchain

• Rumors about credit card information from Bondee users being leaked on the platform

THE EFFECT OF NFTS AND BLOCKCHAIN ON THE ENVIRONMENT 

Although the first claim was true, it doesn’t apply in today’s context anymore. Here’s why:

• Ethereum, the biggest blockchain network running NFTs, was powered mainly by crypto-mining farms. This equipment consumed massive amounts of energy since they ran to support the blockchain 24/7.

• Due to its harmful effects, they developed “The Merge.” This emphasizes Ethereum moving from a “proof of work” to a “proof of stake” mechanism, which means that the blockchain is merging with a separate proof-of-stake blockchain called the Beacon Chain that now exists as one chain.

Instead of crypto-mining farms, the Beacon Chain is now the reason for Ethereum’s operation. 

Additionally, this doesn’t only work on the Beacon-Ethereum tandem but also applies to other blockchains, namely Solana, ADA, etc. 

As a result, ETH reduced it’s energy consumption by approximately 99.95% after The Merge. Hence, making NFTs eco-friendly nowadays.

RUMORS ABOUT USERS’ CREDIT CARD INFORMATION BEING LEAKED

As for the second claim, Bondee’s team has already clarified the alleged issue as false and untrue.

This became official after they made a statement indicating that the company doesn’t collect users’ bank or other financial information. 

CONCLUSION

Given how similar most of their features are to Metaverse, it’s no surprise that Bondee will soon add blockchain and NFTs.

With proper direction, the app could become a leading social platform for promoting Web3 to all people.

On a side note, this article is not solely for giving financial advice. Always do your own research when making such financial decisions.